Jim O'Callaghan (Dublin Bay South, Fianna Fail) | Oireachtas source

I thank the Minister of State. The Government obviously has a lot of actions set out, as described in the Minister of State's opening statement.

I commend and support the approach of the Government. In summary, it appears to be the case that if we can reduce the size of awards, stop or reduce significantly fraudulent claims, and reduce legal fees, premiums will inevitably come down afterwards. The Minister of State mentioned in his opening statement that Insurance Ireland said that if the size of awards decreased, there would be a reduction in premiums. A reduction in premiums is the objective of everyone here. How confident is the Minister of State that once we reduce the value of awards and legal fees and get tougher on fraudulent claims, premiums will come down? Is it simply a commitment that was given by the insurance industry to the Minister of State and this committee?